Retirement actuary Kevin Wade, MAAA, EA, has spent his career working on the complexities of pension and retiree health care plans. Behind that work is a practical, client-focused approach grounded in clear communication, professional judgment, and a commitment to service.
What led you to become an actuary, and what attracted you to the profession?
My uncle, who was an actuary, first got me interested in the profession. Because I was good at math, “actuary” also came up as a potential career fit when I took career aptitude surveys in high school. It turned out to be accurate.
Describe a time when your professionalism training helped you in your career.
Professionalism training helps to reinforce and guide us in the basic principles of acting with integrity and doing the right thing. You have to be willing to have difficult conversations with clients, even when you are not necessarily giving them the information or results they want to hear.
Tell us about a time when your actuarial expertise influenced an important decision in your workplace.
Over my career, there have been many times when a mistake was made by either myself, one of my team members, or a prior actuary on an engagement where we had taken over the work. In all those instances, I’ve relied on my expertise to help not only to identify the problem, but also to outline potential solutions and bring those to the client or other appropriate parties to discuss them and help reach the best potential outcome within the bounds of professional standards.
What’s one of the biggest lessons you’ve learned in your career?
Take responsibility for mistakes made within your team—even (maybe especially) if you didn’t personally make the mistake—and provide ongoing support and feedback to your colleagues. Nearly all of our new hires are entry-level employees out of college, and I truly enjoy helping to provide support, encouragement, and feedback to younger staff to help them be as successful as possible in their careers, whether or not they remain with us or the profession.
What advice do you wish you were given at the beginning of your career?
I wish I had been told more about the importance of learning about each of your clients and their specific needs, and how important it is to speak to them and explain things in a manner that you would want to hear them explained if you were in their shoes.
What do you value most about your Academy membership or volunteer work?
I value the ongoing educational opportunities provided through the Academy, as well as the support it provides to pension plan participants through the PAL [Pension Assistance List] program, in which I’ve had the opportunity to participate.
What is the value of your MAAA?
The value is in what the MAAA represents, especially to those outside our profession—that anyone with the MAAA has the expertise and experience to provide the services and support required.
Would you like to share anything else with aspiring or new actuaries, or those interested in volunteering for the Academy?
I would advise new and aspiring actuaries that the profession goes well beyond just crunching numbers and providing reports, studies, and information to clients. It’s also about being able to communicate effectively, make decisions efficiently, and provide value to and build trust with your clients. I am a strong believer in volunteering with the Academy or with anything you feel passionate about.
Beyond work, what are your hobbies or personal interests?
I am an avid bowler (I have bowled a 300 game) and golfer (no hole-in-one yet). I also enjoy volunteering—I’ve served as finance chair at my church for the past 15 years, been on the board of Nascentia Health, a large regional home health care agency, for over 10 years, and worked with a local nonprofit where I provide career coaching to inner-city high school students. I also enjoy traveling and spending time with family and friends. I’ve been married for 33 years to my wonderful wife. We have a 27-year-old son, and a daughter who lives in Portland, Ore., with her husband, and their two dogs.
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